United Technologies quarterly revenue falls four.5 percent

United Technologies business firm, that makes Pratt & Whitney craft engines and Otis elevators, on Wed reported  a four.5 p.c decline in fourth-quarter revenue, hurt by a robust dollar.

Revenue fell to $14.30 billion from $14.98 billion a year earlier.

Net income as a result of common shareholders rose to $3.28 billion from $1.47 billion.

UTC reported  a loss of thirty cents per share from continued operations, compared with year-earlier earnings of $1.41.

The company reported  adjusted earnings from continued operations of $1.53 per share, down eight p.c from $1.67 a year agone, because of a 19-cent-per-share impact of interchange translation. Analysts on the average had been expecting $1.52, in step with Thomson Reuters I/B/E/S.

The revenue drop mirrored a five p.c decline in new orders at UTC's climate management and security business. New orders at Otis rose a pair of p.c, whereas Pratt's aftermarket sales jumped eleven p.c and UT1 part sales rose eight p.c, the corporate aforementioned.

UTC cursed  the outlook at gave investors a month agone, oral communication it expected 2016 adjusted earnings per share of $6.30 to $6.60, with sales at between $56 billion and $58 billion.